High-end residential developer financing and bridge loans.
Whether you need bank-financed or a bridge construction loan, Insignia Mortgage has long-standing relationships with lenders who will close on time, make fast decisions, and honor their terms.
- Loans from $500,000 up to $25 million.
- Interest-only loan options OK including construction take-out loans for real estate developers.
- Loans to LLC, limited partnerships, corporations, and irrevocable trusts OK.
- Close as quickly as 14 days.
- Custom loan structures including cross-collateralized and blanket loans with interest-only.
- No tax returns required to qualify.
- Foreign borrowers welcomed.
I have done business with Chris Furie for over 20 years and I look to Chris and Damon to source financing on my most complex transactions that require an out-of-the-box lending solution.
Kurt Rappaport, Westside Estate Agency, Wall Street Journal #4 Ranked Realtor 2013
I want to thank you for your help in getting me my loan. You not only got me a great loan that I’m very happy with, but you stayed on it from beginning to end and made me feel very comfortable through the process. You are the best in the business and I would suggest you to anyone buying a house.
Jay Luchs, Newmark Grubb Knight Frank
For over 14 years, I have used Chris’ services to obtain mortgage loans for many of my high-end clients as well as my own mortgage needs. He consistently provides the best terms and rates available in the market place. I will continue to recommend him to my friends and clients in the future.
Joyce Rey, Executive Director Coldwell Banker Previews International
Chris is highly attuned to the needs of the borrower and tailors his loan recommendations accordingly. No matter how complex the terms may be, I can always count on Chris to deliver my clients the best deal possible, on time and without fail.
Jade Mills, Estates Director Coldwell Banker – Beverly Hills
Our Bridge Loan Program has the following added features:
New 5/5 ARM Program
We recently closed on a $17 million take out bridge loan in Bel Air for high-end real estate developer with non-recourse financing.
Insignia Mortgage found a local commercial bank to provide bridge take-out financing of construction loan providing developer another 18 months to sell the home. The developer and bank agreed on non-recourse financing which focused solely on the property valuation in analysis.
The Loan Details
- $17 million dollar bridge take-out loan
- 55% LTV
- 6.99% APR, plus 1.5% points
- 12-month term with 6-month extension
- Interest only with 12-month interest reserve
- No prepayment penalty
- 17-day close of escrow